If you are running a business that involves supplying products to clients on a credit basis, then you may have realized that this method is creating a bottleneck in your cash flow.
This is where invoice factoring can help you out.
What Is Invoice Factoring?
This is a process by which factoring companies “buy” your credit invoices after you have created the invoice in your client’s name. The factoring company will then pay you the invoice amount minus their ‘factoring fee’, normally between 1.5% to 4% of the invoice value.
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